The White House is weighing an executive action to enact U.S. President Donald Trump's call for a cap on credit card interest rates, Bloomberg News reported on Friday, citing people familiar with the matter.
Trump economic advisor Kevin Hassett said the administration is talking to banks about a "Trump card" that would expand credit access to consumers who merit credit but lack leverage.
Bank executives are tiptoeing around President Trump's call to temporarily cap credit-card interest rates at 10%, opposing the idea while making sure not to antagonize the White House.
Visa (V) stock might be an excellent purchase at this time. Why? Because it offers high margins – indicative of pricing power and the ability to generate cash – at a discounted price.
Greater spending activity and adoption of digital payments fuel double-digit percentage revenue growth for Visa. Operating a tollbooth business model supports substantial profits.
Visa, Mastercard and Revolut lost a fight over a proposed transaction fee cap in the United Kingdom. The High Court in London ruled Thursday (Jan. 15) that the U.K.'s Payment Systems Regulator (PSR) has the right to set a price cap for cross-border interchange fees, the Financial Times (FT) reported Thursday.
Mastercard , Visa and British fintech Revolut on Thursday lost a legal challenge to Britain's payments regulator over its plans to introduce a cap on cross-border card fees.
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